Snagged a P90D Inventory car for $700/mnth on the new 24 month lease

[xav-]

Why don't you get one of the loaded P90DL cars for $900 / month then? Not that I need more competition in finding them!

Too much for me honestly. Then I have a big crazy dog, I go to the beach surfing and stuff. You should see my current car it has so many scratches. A lease is not super suitable for me.

Maybe I'll buy the $72k S, keep it log term.. With the fear in mind that I may end up paying as much as one would in these loaded P90D in the end.

I thought these deals were good and worth mentioning to anyone considering leasing. Once you add an option here and there the $800 - $900 a month price tag comes quickly.

 

[xav-]

You say that you think the two-year lease deal on a base Model S is pricey, but have not backed that statement up with any data of leases for comparably priced cars. As noted in my posts above, a quick internet search found competitors selling cars for the same price are charging twice as much on a two-year lease. Your unsupported opinion appears to be contrary to the facts.

Comparing a lease on a C-Class to a Model S is, to put it politely, a stretch. If that's the car for you by all means you should lease it, but it is not in the same class as a Model S.

Which is why I brought up the 5 series in my previous example. A car closer to the model S. Did you even read my post?

 

[xav-]

I took a quick peek at the MB website and the statement highlighted above is incorrect. A two-year lease for a $50K MB C-Class is actually $649 per month, not $450 per month, with $5K down and 10,000 miles/yr. So even the MB C Class you use in your example is more expensive than the base S60 lease at $593/mo for a 10K mile lease. And this is without even factoring in the gas savings.

Do you know what the S of MSRP mean?

Loaded C300 4Matic Sport $50285 / $399 Includes tax / $1820 due at signing

 

[EinSV]

Do you know what the S of MSRP mean?

Loaded C300 4Matic Sport $50285 / $399 Includes tax / $1820 due at signing

Yes, I do. It is the same letter "S" that is in "stretch" and "short seller of Tesla stock."

As in, it is a huge stretch to say that a three-year lease on a C-Series being sold for about $41K ($50K MSRP discounted by 18%), with a 7500 mile limit, from a third party (not Mercedes) is a valid comparison with a two-year 10,000 mile lease on a base Model S that costs about 60% more ($66K). Especially when you can compare directly to the two year leases being offered by Mercedes and Lexus for cars that are being sold at roughly the same price point as the Model S but with leases costing almost twice as much as a two-year lease on the Model S.

Your guys will hate me but I am contemplating taking a short position on Tesla so that if the 3 is massively delayed I will have a nice deposit for the S and don't have to wait for the 3

Based on your recent steady stream of negative posts about Tesla, including the latest claims that Tesla's two-year lease program is not up to snuff (except inventory P90Ds) even though Tesla's terms are almost half the price other companies are offering for similarly priced vehicles, it seems like a reasonable conclusion that you have gone ahead and become a short seller of Tesla's stock as you said you were "contemplating" in the post above.

 

[SoCal Jimmy]

So Tesla ran the credit app yesterday and came back that we qualify for their low down payment option, which is $5k total out of pocket. I opted for that which took our payment from $700 to $841, which is still a great deal and allows me to hold onto cash.

 

[Mike K]

So Tesla ran the credit app yesterday and came back that we qualify for their low down payment option, which is $5k total out of pocket. I opted for that which took our payment from $700 to $841, which is still a great deal and allows me to hold onto cash.

What store did you buy from? I'm in LA and tried Burbank and Santa Monica. Neither had anything even remotely close. I'm begrudgingly wanting to sell my low VIN S85 as it's becoming clear that the early production issues aren't going to stop in 5000 miles when the warranty runs out. So if I can do that and get into a 90D or P90D for similar monthly spend I'd be elated.

 

[SoCal Jimmy]

What store did you buy from? I'm in LA and tried Burbank and Santa Monica. Neither had anything even remotely close. I'm begrudgingly wanting to sell my low VIN S85 as it's becoming clear that the early production issues aren't going to stop in 5000 miles when the warranty runs out. So if I can do that and get into a 90D or P90D for similar monthly spend I'd be elated.

As others have mentioned, most cars that were priced in that range have all been sold at this time. Tesla may release more from their loaner pool but at this time, there's none available.

 

[xav-]

do you even know how lease work?? Of course the car is discounted.. That's my whole point most cars get discounted but not teslas.

Do you understand my only point is that I wish tesla would offers discount not just for P90Ds so that wealthy people can spend $1k a month as opposed to $2k a month.. But also for middle class people so that they could buy a demo S60 for say $600 a month as opposed to $800 or $900 a month, enabling the dream to owning a tesla for more folks?

Do you understand that has been my only criticism? You have tried to denigrate everything I said. You have gone to my history and even attempting to use it to insult me in public. don't you think it's a little.. Harsh?

Do you have an example of a S60 that has a descent discount (demo or not)? Even 1/3rd of a discount that the C class has? Let me guess.. No.. Then let's close this conversation. have a good life.

 

[xav-]

So Tesla ran the credit app yesterday and came back that we qualify for their low down payment option, which is $5k total out of pocket. I opted for that which took our payment from $700 to $841, which is still a great deal and allows me to hold onto cash.

Yep.. Makes most sense.. Put as little down as possible.. Minimise risk.

 

[Skione65]

What store did you buy from? I'm in LA and tried Burbank and Santa Monica. Neither had anything even remotely close. I'm begrudgingly wanting to sell my low VIN S85 as it's becoming clear that the early production issues aren't going to stop in 5000 miles when the warranty runs out. So if I can do that and get into a 90D or P90D for similar monthly spend I'd be elated.

@Mike K,

How low is 'Low VIN'?

Ski

 

[EinSV]

do you even know how lease work?? Of course the car is discounted.. That's my whole point most cars get discounted but not teslas.

Do you understand my only point is that I wish tesla would offers discount not just for P90Ds so that wealthy people can spend $1k a month as opposed to $2k a month.. But also for middle class people so that they could buy a demo S60 for say $600 a month as opposed to $800 or $900 a month, enabling the dream to owning a tesla for more folks?

<snip>

Do you have an example of a S60 that has a descent discount (demo or not)? Even 1/3rd of a discount that the C class has? Let me guess.. No.. Then let's close this conversation. have a good life.

As pointed out in my posts above, Tesla's two-year lease deals on the base Model S60 are almost half the cost of two-year leases for comparably priced cars from other car companies. You have not contradicted that. Discounts are not the only way to reduce costs to consumers of the base Model S -- you can also do that through favorable lease deals, which Tesla has done. Tesla has done this on a short-term lease that has the added benefit to future Model 3 customers of giving them a good deal on the base Model S, and they can then turn it in and get the Model 3 they want in a couple years.

There appear to be only a handful of pre-refresh S60/70/75 inventory cars available so it is not surprising they are not discounted as heavily as the inventory pre-refresh P90Ds, which Tesla obviously also wants to clear out now that they are introducing the P100D.

You have gone to my history and even attempting to use it to insult me in public. don't you think it's a little.. Harsh?

Perhaps you don't recall but I posted on the same thread where you said that you were considering short selling and I remembered your post so there was no need to dig through your history.

Since you volunteered on that thread that you were contemplating shorting the stock I'm surprised that you find it insulting for me to mention that. I notice that you do not deny shorting the stock.

 

[Mike K]

@Mike K,

How low is 'Low VIN'?

Ski

57xx

I bought it fully realizing it would have issues but it had plenty of warranty. Now that I've had it for awhile I've learned that the systems on these older cars are almost entirely different than on the new cars. I think you could almost consider the 2012/ 13's a different car with the same skin. It hasn't soured me on Tesla but it has soured me on the early production cars and I've only got 5000 more miles of warranty for them to get it right and I have no faith that after that 5000 miles has passed it will suddenly stop breaking. To the car's credit, the major systems like the powertrain have been bulletproof which to me is incredible. It's all the OE supplier stuff Tesla bought that's breaking. To Tesla's credit, they've jumped through hoops to make it right. I've got little in the way of complaints there.

Right now I feel like I'm driving a patchwork of old and new, and retrofits and then the seatbelt tensioner broke yesterday and I was sitting there looking at a 50k offer for the car when I paid just 52k for it 10 months and 15,000 miles ago and it's like a sign from nature to just let it go and grab something newer.

Are you sorry you asked?

 

[n2mb_racing]

Gah. I was ready to lease a P90DL today, then the P100D was announced....

 

[Skione65]

57xx

I bought it fully realizing it would have issues but it had plenty of warranty. Now that I've had it for awhile I've learned that the systems on these older cars are almost entirely different than on the new cars. I think you could almost consider the 2012/ 13's a different car with the same skin. It hasn't soured me on Tesla but it has soured me on the early production cars and I've only got 5000 more miles of warranty for them to get it right and I have no faith that after that 5000 miles has passed it will suddenly stop breaking. To the car's credit, the major systems like the powertrain have been bulletproof which to me is incredible. It's all the OE supplier stuff Tesla bought that's breaking. To Tesla's credit, they've jumped through hoops to make it right. I've got little in the way of complaints there.

Right now I feel like I'm driving a patchwork of old and new, and retrofits and then the seatbelt tensioner broke yesterday and I was sitting there looking at a 50k offer for the car when I paid just 52k for it 10 months and 15,000 miles ago and it's like a sign from nature to just let it go and grab something newer.

Are you sorry you asked?

@Mike K,

Nope! That IS a low VIN. It just reinforces why I'm looking at 2014 or newer CPOs right now!

Ski

 

[EinSV]

Gah. I was ready to lease a P90DL today, then the P100D was announced....

I am not sure I would have done it anyway but was told today my inventory P90DL would require the full $20K upgrade to go to P100D. The store still seems to be figuring things out so not sure that is the last word on the subject. Was hoping to have my cake and eat it too but maybe not possible ....

 

[Shuasha]

Did anybody else notice that they raised the prices of the inventory demo P90DL by around $8k a week ago, then just dropped them again after the announcement. If you look at a few of the price histories, you can see it.

 

[Rahul]

So Tesla ran the credit app yesterday and came back that we qualify for their low down payment option, which is $5k total out of pocket. I opted for that which took our payment from $700 to $841, which is still a great deal and allows me to hold onto cash.

Did they volunteer that you're eligible for a lower DP? This is all I got from Tesla Finance:

"Your application for Tesla leasing has been approved and the relevant terms have been estimated below based on your initial mileage and down payment preference."

Right now I'm have $7300 due at signing. Just curious though. I probably wouldn't lower the down payment because the lease rate is 4.32% and I'm not sure I could do that much better with the market being so high right now.

 

[ChadS]

It hasn't soured me on Tesla but it has soured me on the early production cars

Hey Mike,

I am truly sorry that you have had trouble with your car, and am glad you found a solution that allows you to stick with Tesla in a way that will hopefully work for you.

I would like to note that a few people with very recent production cars have had serious problems too. I hope that doesn't sour them on recent production cars, in the same way I hope you aren't really soured on early production cars. While an early car probably (though we don't have enough data to be completely sure) has a greater chance of problems than a later car, you really can't lump all cars together by VIN as some have problems and some don't, early and late. I have Roadster #690 and Model S #112 and I don't have problems with either of them.

The early cars ARE missing some features. I wish my Model S had the new nose, autopilot, AWD, etc. But I don't wish I had a more recent one for reliability, because this one is awesome. (And my warranty ran out two years ago).

 

[Mike K]

Hey Mike,

I am truly sorry that you have had trouble with your car, and am glad you found a solution that allows you to stick with Tesla in a way that will hopefully work for you.

I would like to note that a few people with very recent production cars have had serious problems too. I hope that doesn't sour them on recent production cars, in the same way I hope you aren't really soured on early production cars. While an early car probably (though we don't have enough data to be completely sure) has a greater chance of problems than a later car, you really can't lump all cars together by VIN as some have problems and some don't, early and late. I have Roadster #690 and Model S #112 and I don't have problems with either of them.

The early cars ARE missing some features. I wish my Model S had the new nose, autopilot, AWD, etc. But I don't wish I had a more recent one for reliability, because this one is awesome. (And my warranty ran out two years ago).

Hey Chad. I don't want to poop on this thread too much but just to address your post... I don't mind the missing features. In fact, I was excited about having a low VIN car for the very same reason you probably are excited to own your VIN 112. It feels like one of the first. Without getting ridiculous, it's almost like driving a piece of history or driving a piece of future history.

I've had chronic issues that are directly associated to this car being early production. There are certain components on the early cars that are entirely different than the newer cars. Two things that come to mind are the panoramic roof which if you look at newer cars is completely different than what you and I have and then the tire pressure monitoring system which is a completely different vendor and system on newer cars. Those are just two examples. If you compare a 2013 to a 2014 I think you find a lot more. I'm not saying that newer cars are completely trouble-free but all things equal, they seem to be loads better than the older cars just in terms of the details and overall build quality. I had a newer (18xxx VIN) car and you could see the difference just in that short amount of time.

All things equal though, there are a laundry list of common issues for cars like yours and mine and not so much on the newer cars. But that's ok. I don't think it takes anything away from the car given how revolutionary it is in other ways and considering that it was literally the first ground up car Tesla made. Everyone's seen Fisker. We all know how truly mediocre the cars could have been and not only are they not, but they aren't even average. They are some of the best, no compromise vehicles someone can drive. That is an incredible accomplishment.

So I walk away from this car (likely) but I hope not to walk away from Tesla. If I can't find a lease special I'll likely wait it out for 5 - 6 months until the early run AP cars get to the same price point my car is at now. I hold no grudges though. My decision to sell this particular car is purely speculative based on what I think will happen. It very well might be entirely fixed now sans my broken seat belt.

 

[SoCal Jimmy]

Did they volunteer that you're eligible for a lower DP? This is all I got from Tesla Finance:

"Your application for Tesla leasing has been approved and the relevant terms have been estimated below based on your initial mileage and down payment preference."

Right now I'm have $7300 due at signing. Just curious though. I probably wouldn't lower the down payment because the lease rate is 4.32% and I'm not sure I could do that much better with the market being so high right now.

Ask them about putting less down. Every $1000 less up's your payment about $47 dollars.